Severe weather conditions contribute to overall decline in activity, according to BuildZoom.
The remodeling and construction industry in the US got off to a slow start in 2014 after a strong 2013, in which the industry experienced 9.3% growth over the previous year. After accounting for seasonal variability, BuildZoom estimates that residential activity declined 10% from December 2013 to January 2014 while commercial activity declined 1% during the same period.
The extreme weather conditions played a significant role in slowing industry growth. Some of the sharpest declines took place in areas most affected by the winter conditions while warm weather cities fared much better in the month.
For more information on the remodeling and construction industry's performance in January 2014, visit the BuildZoom blog.
The methodology primarily involved analysis of building permit records from a regionally stratified set of city and county permit agencies. For more on their methodology, visit BuildZoom.com.